Tim S.A. (NYSE:TIMB) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management reduced its position in Tim S.A. (NYSE:TIMB) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 196,724 shares of the company’s stock after selling 17,168 shares during the quarter. Meritage Portfolio Management’s holdings in TIM were worth $2,313,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TIMB. Itau Unibanco Holding S.A. increased its holdings in shares of TIM by 55.8% in the third quarter. Itau Unibanco Holding S.A. now owns 1,073,450 shares of the company’s stock valued at $18,485,000 after purchasing an additional 384,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in TIM by 137.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,710 shares of the company’s stock valued at $12,187,000 after buying an additional 409,992 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of TIM in the 3rd quarter worth $12,054,000. State Street Corp raised its holdings in shares of TIM by 16.7% during the 3rd quarter. State Street Corp now owns 583,724 shares of the company’s stock worth $10,207,000 after acquiring an additional 83,468 shares during the period. Finally, Assetmark Inc. boosted its position in shares of TIM by 10.4% during the 3rd quarter. Assetmark Inc. now owns 309,225 shares of the company’s stock valued at $5,325,000 after acquiring an additional 29,030 shares during the last quarter.

Wall Street Analyst Weigh In

TIMB has been the subject of several recent analyst reports. Barclays cut their price objective on shares of TIM from $17.50 to $15.50 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group reduced their price target on shares of TIM from $16.20 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Scotiabank decreased their price objective on TIM from $24.80 to $23.20 and set a “sector outperform” rating on the stock in a report on Tuesday, November 5th. Finally, UBS Group cut TIM from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th.

TIM Trading Down 2.7 %

Shares of TIMB stock opened at $13.37 on Thursday. Tim S.A. has a 1-year low of $11.32 and a 1-year high of $19.14. The firm has a market cap of $6.48 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.59 and a beta of 0.84. The company has a 50-day moving average of $12.50 and a two-hundred day moving average of $14.49. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93.

TIM (NYSE:TIMB) last posted its earnings results on Tuesday, November 5th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.09). TIM had a net margin of 12.71% and a return on equity of 11.73%. The company had revenue of $1.16 billion during the quarter. On average, analysts predict that Tim S.A. will post 1.16 EPS for the current year.

TIM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Monday, December 30th were given a $0.1723 dividend. This is an increase from TIM’s previous quarterly dividend of $0.09. This represents a $0.69 annualized dividend and a yield of 5.15%. The ex-dividend date was Monday, December 30th. TIM’s payout ratio is currently 56.35%.

About TIM

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.